Loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 January 2013
Dear sir,
May I borrow loan in cash? & what is the limit during the year for loan in cash?
May I borrow loan in cash? & what is the limit during the year for loan in cash?
Amol S Joglekar
(Expert)
03 January 2013
As far as possible, avoid CASH loan. 20,000 should be the limit.
Sulabh Jain
(Expert)
03 January 2013
Section 269SS provides that any loan or deposit shall not be taken or accepted from any other person otherwise than by an account payee cheque or account payee bank draft if, the aggregate amount of such loan and deposit exceeds Rs. twenty thousand rupees.
Thus it is clear that no person can accept any loan or deposit of more than Rs 20000 in cash in a financial year.
Thus it is clear that no person can accept any loan or deposit of more than Rs 20000 in cash in a financial year.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- Nursery business
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Intimation under section 245
- Section 269ST applicability for capital introduced by partner to his partnership firm
- GST input credit on commercial property
- ETDS return q4 25-26
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
